4 Farrell Road, Bulli NSW 2516

Beachfront East Bulli | 5 studio unit block | 650m² level site | 100m to sand | low-density zoning This property presents a rare coastal consolidation opportunity, combining a multi-income stream with a prime, irreplaceable location. Its configuration as five studios on a single title is competitively strong, offering immediate rental demand from a beachside tenant pool while holding underlying land value in a tightly held, low-density zone. The level site with no overlays simplifies future decisions, serving an investor seeking both yield and land banking potential, or an owner-occupier considering a future rebuild while benefiting from offsetting income. The primary risk is the management intensity and potential capital expenditure of a 1950s-built multi-unit block, costing in upkeep and oversight. The commercial logic lies in holding the existing cash flow while the land appreciates, or in the optionality to redevelop the site under current zoning. The judgment call is to acquire this for its land value and location premium, treating the existing units as a yield-supporting interim use rather than a long-term holding in their current form.